California Loss-Mitigation Bill Creates More Problems than It Solves

HousingWire, Apr. 29, 2016–Finlay, Robert

California continues its effort to pass a law that would require loan servicers to work with successor’s to borrowers on loss mitigation options. The same effort failed last year. The California Mortgage Bankers Association and other industry groups pointed out numerous problems they said would cause harm for borrowers, lenders and the housing market.